Citizen-DAF465 on Nostr: ODELL The quicker society gets accustomed to zapping funds here and there. The more ...
ODELL (npub1qny…95gx) The quicker society gets accustomed to zapping funds here and there. The more pressure is placed onto Government’s to relax their stance on Bitcoin transactions being a taxable event.
Many of those who have swallowed the Orange pill of late are connected to BTC via KYC.
In Australia for instance, the tax law states that every transaction with Bitcoin is a taxable event unless you purposely (and can prove) that you purchased the Bitcoin to then make an immediate purchase with it (which defeats the whole point of holding it, and they know that).
For BTC to become a true currency and not just a store of value in many countries the point you have made is paramount.
Zaps need to become second nature to everyone as a means of transferring value and the system will then organically begin to put pressure on governments.
The USA must lead the way in this as more socialist style governments do not like the freedom and control it gives (which we know is no different to cash today), but if the US can lead the way as in most things in modern culture, others will then follow….
Many of those who have swallowed the Orange pill of late are connected to BTC via KYC.
In Australia for instance, the tax law states that every transaction with Bitcoin is a taxable event unless you purposely (and can prove) that you purchased the Bitcoin to then make an immediate purchase with it (which defeats the whole point of holding it, and they know that).
For BTC to become a true currency and not just a store of value in many countries the point you have made is paramount.
Zaps need to become second nature to everyone as a means of transferring value and the system will then organically begin to put pressure on governments.
The USA must lead the way in this as more socialist style governments do not like the freedom and control it gives (which we know is no different to cash today), but if the US can lead the way as in most things in modern culture, others will then follow….